The COVID-19 pandemic has put enormous pressure on everyone’s physical health and well-being, with many people being isolated and confined to their homes for months. Yoga has long been known for its ability to alleviate stress and anxiety (among other proven health benefits), so it should come as no surprise that an increasing number of people have turned to yoga during a year plagued with challenges, doubt and uncertainty.
But despite more people wanting to practice yoga, many yoga studio owners have been struggling after months-long mandatory closures turned the fitness industry upside down. So, what can yoga studio owners do to stay afloat and attract new members during these times riddled with ongoing uncertainty?
Now more than ever, running a successful yoga business hinges upon the ability to establish a strong brand identity in order to retain and engage current students, as well as attract new students to your yoga business. The shift to online workouts has created a lot of new competition in the fitness realm, but your brand identity is what will make people want to choose you and keep coming back.
In this blog we’ll cover six key areas yoga studio owners need to focus on in order to run a successful yoga business:
1. What is my mission?
The mission of your yoga business will drive everything you do—in fact, it’s why you do what you do. Spend ample time developing your mission statement as you want to make sure it reflects your goals as a yoga business owner and resonates with your target audience.
2. What is the personality of my yoga business?
The personality of your yoga business will shape how you communicate across all boards—from how you talk to your yoga instructors and students to the tone and language that’s used on your social media pages and in your marketing materials.
3. Who is my target audience?
Defining your target audience and understanding how to communicate with them effectively is critical to running a successful yoga studio. Your yoga business can’t cater to everyone, and that’s okay—no business can! In fact, you may even want to consider a niche market, like yoga for beginners, families, athletes, or seniors. Once you figure out who you want to attract, you’ll have a better understanding of how to reach them.
For example, if you decide to focus on seniors as your niche market, you’ll want to make sure your yoga classes are offered at times that are appealing and convenient to them. Additionally, make sure the language you use to describe your yoga classes are attractive to that audience.
4. Who are my competitors?
It’s pretty safe to assume you won’t be the only place offering yoga classes in your area, so you’ll want to figure out who your main competitors are. Do some research to see what competitors are offering, and then try to figure out how to differentiate your yoga business.
Is there something your competitors aren’t offering that you can? Is there something you think you can do better? Once you figure out what it is, that will become your value proposition.
5. How can I stand out?
It’s difficult for any yoga business to stand out in a saturated market, which is why it’s so important to figure out who your target audience is, as well as your value proposition and competitive advantage.
What can you do that your competitors aren’t? Here are a few ideas you may want to consider to help your yoga business stand out:
- Offer a free trial: One of the best ways to get new members in your door is to offer a free, no commitment trial. If your competitors offer one free class, consider offering a free week of unlimited classes (or some other variation that’s feasible for your yoga business).
- Provide referral incentives: Your current clientele can be your best brand advocates. If they enjoy your yoga classes, chances are they’ll tell their friends…but why not give them an extra nudge by offering an incentive to do so? Many of your competitors may also have a referral structure in place, so think about what you can offer that’s different and may be considered more valuable.
- Host competitions and challenges: Motivation and positive reinforcement can go a long way when it comes to fitness. Who doesn’t love a little friendly competition? The way you structure these should be driven by your audience. Switch things up every so often by offering special events helps create a valuable experience.
- Keep offering virtual classes: Sometimes people just want to work out from the comfort of their own homes, especially given lingering concerns around the coronavirus. This year challenged many yoga studio owners to adapt to the times by offering virtual classes when studios were closed, and now many people have grown accustomed to the convenience. Even if you’re located somewhere where all the restrictions have been lifted and business is back to usual, consider offering virtual classes year-round.
6. How can I maximize operational efficiency?
Most yoga studio owners wear multiple hats, and it can be easy to get overwhelmed. Let us help you achieve peace of mind with our powerful yoga studio management system. Create custom yoga studio membership plans and packages, manage contracts and renewals, automate reminders and collect payments all from one platform.
We also recently rolled out our Zoom Integration and Video Library to help you stay competitive during the changing times.
To learn more, click here to schedule a free, no commitment demo.